You visit the dealer after seeing an advertisement for a sporty Mercedes Benz CLA and negotiate a purchase price of $48 500.00. (a) What would the monthly payment be with no down-payment, and financing the total with an interest rate of 4.79 percent compounded semi-annually for a six-year term? (b) If you were able to make payments of $850.00 monthly instead, how many payments would you be required to make?

Answer rating: 100% (QA)

Answer a The monthly payment would be 85361 b The nu... View the full answer